International News

Bloomberg Secretary of State Michael Pompeo and Treasury Secretary Steven Mnuchin rejected a request from European leaders for broad-based waivers from sanctions the US will reimpose on countries that do business with Iran after the President Donald Trump backed out of the 2015 nuclear accord. In a letter whose contents were described to Bloomberg News, Pompeo and Mnuchin told the ...

Bloomberg Rupert Murdoch’s Inc. boosted its bid for Sky Plc, raising the stakes for Comcast Corp. to retaliate in a battle for control of Britain’s top pay-TV company. Fox offered £14 per share to value Sky at £24.5 billion ($32 billion), 12% more than Comcast’s rival £22 billion offer. Sky shares fell as much as 2% as some investors had ...

Bloomberg Google’s latest European Union (EU) woes could mean opportunity knocks for app developers stymied by contracts that pre-install the US giant’s own services on Android phones and tablets, according to analysts and companies. The Alphabet Inc. unit is expected to face an antitrust fine over Android in the coming days that could top last year’s record 2.4 billion-euro ($2.8 ...

Bloomberg Hudson’s Bay Co. said it will stop selling Ivanka Trump’s goods at its Canadian namesake stores, citing slow sales. The Toronto-based company, which also owns Saks Fifth Avenue and Lord & Taylor, will phase out the brand at its namesake chain and website this fall, a spokeswoman said in a statement. Hudson’s Bay operated about 90 stores across Canada ...

Bloomberg American Tire Distributors (ATD) Inc., seeking to bolster itself after two of the biggest brand names pulled their business, said other suppliers will fill the gap and that it’s already posted sales gains in the first half of this year. ATD, North America’s largest tire distributor, had “strong success” in converting to other suppliers and has a “robust pipeline ...

Bloomberg Elliott Management Corp. said it was seeking compensation for at least $770 million in damages from South Korea over how its former administration intervened in the merger of Samsung C&T Corp. and Cheil Industries Inc. in 2015. Billionaire Paul Singer’s New York-based hedge fund had submitted the dispute for arbitration and urged the government to pay the damages in ...

Bloomberg Mukesh Ambani overtook Alibaba Group founder Jack Ma to become Asia’s richest person as he positions Reliance Industries Ltd. to disrupt the e-commerce space in India. The chairman of India’s refining-to-telecoms conglomerate, Ambani was estimated to be worth $44.3 billion with Reliance Industries Ltd. rising 1.6 percent to a record 1,099.8 rupees, according to Bloomberg Billionaires Index. Ma’s wealth ...

Bloomberg Singapore’s sovereign wealth fund, which backed some of China’s biggest technology startups, is becoming more selective about investments in the sector amid soaring valuations. An influx of investors of all stripes, from venture capital to sovereign wealth and hedge-funds, has driven up valuations of many unprofitable startups, Jeffrey Jaensubhakij, group chief investment officer of GIC Pte., said in an ...

Bloomberg Apple Inc. has lost a trio of pivotal executives in India in recent weeks as it struggles to boost iPhone sales in the world’s fastest-growing major smartphone market, people familiar with the matter say. Among the executives who’ve departed are its national sales and distribution chief, the head of its commercial channels and mid-market business, and the head of ...

Bloomberg Less than a week into President Donald Trump’s trade war with China, global automakers have shown there are ways to bypass the battle — and scoring a win for Beijing in the process. Tesla Inc. and BMW AG are among the biggest potential losers from Beijing’s retaliatory tariffs on car imports from the US because much of their production ...